HeartCore Enterprises, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>HeartCore Enterprises, Inc. has filed its annual report detailing financial performance for the fiscal year ending December 31, 2023.</b>

AI Summary

HeartCore Enterprises, Inc. (HTCR) filed a Annual Report (10-K) with the SEC on April 9, 2024. HeartCore Enterprises, Inc. filed its 2023 Form 10-K on April 9, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is in Shinagawa-ku, Tokyo, Japan. The filing includes financial data for the fiscal years 2023, 2022, and 2021. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking HeartCore Enterprises, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of the company's financial health and operational performance for the past fiscal year, crucial for investors to assess its current standing and future prospects. The detailed financial statements and risk factors disclosed in this report are essential for stakeholders to understand the company's business, its challenges, and its strategic direction.

Risk Assessment

Risk Level: medium — HeartCore Enterprises, Inc. shows moderate risk based on this filing. The company's business address is listed in Tokyo, Japan, and its phone number is a US number, indicating potential complexities in operations or reporting that could pose medium-level risks.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand HeartCore Enterprises' performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-09 — Filing Date (Filed as of date)
• 2023 — Fiscal Year (Reporting period)
• 2022 — Previous Fiscal Year (Comparative period)
• 2021 — Prior Fiscal Year (Comparative period)

Key Players & Entities

• HeartCore Enterprises, Inc. (company) — Filer name
• 0001493152-24-013979 (other) — Accession number
• 20231231 (date) — Conformed period of report
• 20240409 (date) — Filed as of date
• 7374 (other) — Standard Industrial Classification
• DE (other) — State of incorporation
• 1-2-33, HIGASHIGOTANDA, SHINAGAWA-KU, TOKYO, M0 1410022 (address) — Business address
• 650-695-2583 (phone) — Business phone

FAQ

Industry Context

HeartCore Enterprises operates in the computer processing and data preparation services industry (SIC 7374).

Regulatory Implications

The filing is a Form 10-K, a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for public companies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key metrics for FY2023.
2. Review the risk factors section for potential operational or market challenges.
3. Examine any disclosures related to related-party transactions.

Key Dates

• 2024-04-09: 10-K Filing — Annual report filed for fiscal year ending 2023-12-31

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Key Financial Figures

• $1.43 — iliates based upon the closing price of $1.43 per share of common stock as of June 30
• $0.0001 — 4,144 shares of common stock, par value $0.0001 per share, of the registrant issued and
• $380,000 — mpany a consulting fee that ranges from $380,000 to $900,000 and warrants or stock acqui
• $900,000 — ulting fee that ranges from $380,000 to $900,000 and warrants or stock acquisition right
• $0.01 — n certain dates at an exercise price of $0.01 or JPY1 per share. The revenue in the G
• $37.9 billion — l growth rate of approximately 18.4% to $37.9 billion by the end of 2024. However, we believe
• $65 billion — or automation software to approximately $65 billion. The size of our addressable market o

Filing Documents

• form10-k.htm (10-K) — 2932KB
• ex10-44.htm (EX-10.44) — 17KB
• ex10-45.htm (EX-10.45) — 16KB
• ex10-46.htm (EX-10.46) — 16KB
• ex10-47.htm (EX-10.47) — 18KB
• ex10-54.htm (EX-10.54) — 94KB
• ex21-1.htm (EX-21.1) — 6KB
• ex23-1.htm (EX-23.1) — 4KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 8KB
• 0001493152-24-013979.txt (&nbsp;) — 10722KB
• htcr-20231231.xsd (EX-101.SCH) — 64KB
• htcr-20231231_cal.xml (EX-101.CAL) — 120KB
• htcr-20231231_def.xml (EX-101.DEF) — 303KB
• htcr-20231231_lab.xml (EX-101.LAB) — 582KB
• htcr-20231231_pre.xml (EX-101.PRE) — 474KB
• form10-k_htm.xml (XML) — 1388KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 35 Item 1B. Unresolved Staff Comments 69 Item 1C Cybersecurity 69 Item 2.

Properties

Properties 69 Item 3.

Legal Proceedings

Legal Proceedings 69 Item 4. Mine Safety Disclosures 69 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 70 Item 6. Reserved 71 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 71 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 83 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 83 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 83 Item 9A.

Controls and Procedures

Controls and Procedures 83 Item 9B. Other Information 84 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 84 Part III Item 10. Directors, Executive Officers and Corporate Governance 85 Item 11.

Executive Compensation

Executive Compensation 90 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 106 Item 13. Certain Relationships and Related Transactions, and Director Independence 108 Item 14. Principal Accountant Fees and Services 109 Part IV Item 15. Exhibit and Financial Statement Schedules 110 Item 16. Form 10-K Summary 110 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Some of the statements contained in this annual report may constitute "forward-looking statements" for purposes of the federal securities laws. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this annual report are based on our current expectations and beliefs concerning future developments and their potential effects on us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the following risks, uncertainties and other factors: the level of demand for our products and services

View Full Filing

View this 10-K filing on SEC EDGAR